The CEO has the floor - January

When monopolies break down and auctions take off

A contributing factor that is often mentioned in conversations with both sellers and buyers is an update on one of the leading ad sites. Changes in functionality and user experience have led to frustration, and when users start to question habitual behaviors, something interesting happens: They start looking for alternatives.

When a near-monopolistic market loses its obvious grip, space is created for more players – and the market is fragmented. This is exactly what we are seeing now. More platforms, more niches and more ways to meet. Auctions are clearly on the rise, not just as an alternative but as their own ecosystem. But here too an important insight arises: an auction is not a classified ad.

The magic of auctions

Although we have touched on this before and we notice that it still requires education, and understanding of the power and dynamics of the auction, especially on the sales side. Many people bring the logic from classified ads – “How much do I want?” – into the auction world. It works differently there. A reserve price is not a asking price, but a safety net.

The magic of an auction only occurs when multiple buyers are given the opportunity to react to each other. It is precisely this dynamic that a fixed price tag can never capture. However, we see that it often actually surpasses the fixed price tag and, critically, the item is sold within a certain set time.

Our audience - the enthusiasts

With increased understanding of the auction format, it is now gaining ground, not least internationally. The transparency, pace and dramaturgy create engagement – ​​and engagement creates business. In this landscape, we strongly believe in focus. Unlike broad marketplaces, we have chosen to do one thing, and do it fully: enthusiast vehicles. That means a narrower audience, yes – but also a significantly more dedicated one. That is the audience you actually want to reach when you sell a collector vehicle.

When the market is divided into smaller, more specialized parts, it paradoxically becomes both more efficient and more vibrant. And perhaps that is precisely where the future lies: not in the largest platform, but in the most relevant.

There's a lot going on under the hammer right now. And it feels like we've only just begun. 

At the Pen and the mallet